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“Advancing the Bitcoin economy will benefit all Americans even those who have never heard of Bitcoin For example it will lead to better security and privacy in electronic transactions Our goal is to build a way for voters to play an active role in shaping digital and economic policy to ensure that Bitcoin has a secure place in America”

“The Bitcoin protocol has immense intrinsic value as a self-regulating frictionless payment network affordable to almost anyone Here is a technology that allows anyone to send any amount of money to anyone else in the world at virtually no cost with nothing more than an Internet connection or smart phone Bitcoin like the Internet is one of those innovations that can break down barriers information barriers in the case of the Internet and financial barriers with Bitcoin”

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Now a day there are plenty of merchants that accepts bitcoin for all kind of purchases such as electronics gift cards air plane tickets booking hotel rooms buying food and you can even a find online retail stores If you want to see a nice list read the following article by CoinDesk

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I was really inspired by the boundaries people were pushing Bitcoin seemed like something people bet against because the government doesn’t welcome with open arms what they don’t control But it is such a big idea that it could never be controlled

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“Irrespective of your opinion the rise in popularity of cryptocurrencies cannot be ignored Today there are a number of billion dollar businesses that accept Bitcoin as a form of payment These include Dell Reddit Expedia PayPal and most recently Microsoft So for the uninitiated who have not yet grasped what Bitcoin and other cryptocurrencies are you ought to catch up”

Coin Bullion provides a non-advisory service the Information contained in or provided from or through this website is not intended to be and does not constitute financial advice or any other advice You should not make any decision financial investment trading or otherwise based on any of the information presented by Coin Bullion without undertaking independent due diligence You are using any and all Information available on or through this service at your own risk The trading of Bitcoins and alternative cryptocurrencies has potential rewards and it also has potential risks involved Trading may not be suitable for all people

“The governments of the world have spent hundreds and hundreds of trillions of dollars bailing out a decaying dickensian outmoded system called banking when the solution to the future of finance is peer-to-peer It’s going to be alternative currencies like Bitcoin and it’s not actually going to be a banking system as we had before 2008”

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Hey obviously this is a very interesting time to be in Bitcoin right now but if you guys want to argue over whether this is reality or not one Bitcoin will feed over 40 homeless people in Pensacola right now If you guys want proof Bitcoin is real send them to me I’ll cash them out and feed homeless people”

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“For the ‘other 6 billion’ who don’t enjoy international control-free banking as we do Bitcoin represents an opportunity to become part of a global economy which up till now did not exist For those users Bitcoin is more than just a curiosity it might be a doorway to connect to the world”

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“The Federal Reserve system hates it! They would love to kill it They’re attacking it any way they can but they will fail This is what we’ve been waiting for! This is the “Cyber Christ” moment This is when the activists that having been pushing against the Fed are gonna win with Bitcoin”

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“I hope the Bitcoin model which was created by the powerful innovative free market system will earn serious traction and acceptance as a global alternative digital currency model and will compete with all fiat currency systems The power of Bitcoin is that no central bank can print Bitcoins and dilute its purchasing power parity”

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There’s a lot of misconception about what Bitcoin actually is due to media narratives The most popular reference I hear mentioned is Silk Road but Silk Road wasn’t enabled by Bitcoin People forget or don’t realize that Silk Road was enabled by Tor an ‘anonymizing’ proxy network Bitcoin isn’t actually an anonymous currency it’s pseudo-anonymous Want to know what’s anonymous Cash

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Bitcoin is a form of digital currency created and held electronically No one controls it Bitcoins aren’t printed like dollars or euros or any other handheld currency – they’re produced by people and increasingly businesses running computers all around the world using software that solves mathematical problems

“Bitcoin enables certain uses that are very unique I think it offers possibilities that no other currency allows For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin with a third party that couldn’t run away with the coin itself”

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“There will be a future where people will use Bitcoin and they won’t even know they’re using it At that point it’s everywhere — it’s a part of global finance it’s a part of our everyday lives In the same way using email was very difficult and the edge of technology… it’s always difficult it’s problematic it’s painful to use and we’re at that point in Bitcoin right now The point where we’re beyond it is the point where people don’t think of email as the bleeding edge of tech because it works so well everyone uses it… I think it’s going to get to that point”

“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments… Bitcoin might revolutionize more than money or economics It could transform the role and nature of government”

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“These property purchases can now happen in minutes from anywhere in the world with the speed of sending an email We are pleased to partner with Knox group of companies on this exciting first for Bitcoin and for property payments” Stephen Pair CEO and co-founder of BitPay

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To truly understand the impact of Bitcoin consider what the cellphone did for telecom There are places in the world that completely skipped over traditional landline phones mostly because it’s a resource-intensive advancement and went straight to cellphones Bitcoin will be the technology that leaps over traditional banking in these same parts of the world The people in places that never saw truly established banking services will be able to use those cellphones they have to do their ‘banking’ in Bitcoin

“I have invested in Bitcoin because I believe in its potential the capacity it has to transform global payments is very exciting It has been obvious to us all for quite some time that people aren’t satisfied with the business as usual approach adopted by the major payment networks There’s a real desire for greater levels of control freedom and scrutiny over what happens with our money Bitcoin addresses these concerns and that is why so many people believe it represents the future”

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“In short Western Union spends and earns billions to do what Bitcoin does for freeInstead of Western Union migrant workers or businesses operating on their behalf could use Bitcoin to send payments from one country to another through email without worry of fraud or needing to support an elaborate exchange or credit market It would be real-time immediate settlement at a fraction of the cost In ten years instead of international drugs Bitcoin could act as a genuine lingua franca for international work”

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“Bitcoin is the beginning of something great: a currency without a government something necessary and imperative But I am not familiar with the specific product to assert whether it is the best potential setup And we need a long time to establish confidence I only talk from skin-in-the-game If I had money in Bitcoin I would have reported it But I don’t yet I am waiting to understand it better not with my brain but with my experience”

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“A majority of our support comes from individual donations made by thousands of people across the country Meaning that we have to be constantly evolving to ensure that donors are able to support our important work in the way that’s most convenient for themThat is why we are now accepting Bitcoin donations”

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The math and technology behind the Blockchain is difficult for most to understand but the beauty is – you don’t have to get it to use it Do you really get how the internet works TLS/SSL DNS HTTPS If you ask the average person on the street what https is or dns they likely wouldn’t be able to tell you But these things are underneath most of the applications they use on a daily basis I think the real success of Bitcoin will be when it’s the foundational layer on top of which applications and processes are built without people having to understand what that means

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From my perspective seeing that level of focus and interest from developers is a clear indication that bitcoin will play a critical role in the future of this industry

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“Spend some time with Bitcoin Learn it challenge it and use it You can assume no government wants you adopting this system in any capacity and for that reason alone it’s worth consideration by honest moral and industrious people”

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Yes so you can make it so they have to interact etc Now that is useful and to the point but it doesn’t solve the problem because there is still some implied encumbrance So here’s the thing If that problem is described well enough and the description encapsulates it… 10:29 Then I’d invoke this rule that is an extension of szabo’s “trusted third parties are security holes”… But rather that trustworthy 3rd parties are NOT security holes 10:30 We’ve talked about 3rd parties for insurance on the escrow which is also an example and here we could have a 3rd party do reputation management set up games and police this behavior Because its not fatal to the security or integrity of the game/protocol it CAN be outsourced 10:31 Now if i haven’t described the problem well enough or encapsulated it then this is a moot point but since its getting simpler I suspect we have… and so this would be an interesting point very interesting… 10:33 because people will NOT want to agree with it but its necessary and I think its necessary of bitcoin as well Where people might say “But satoshi you have to have a secure wallet and secure exchanges” Wallet providers and exchanges “trusted” third parties… but because they arose on a market they are trustworthy 10:37 So if this is neat and tidy enough there is a solution with “promissory notes” which I think are best called something like a “committed promissory” to imply there cannot be a reneg and the only draw back is that you can encumber the game I call it encumber because its slightly different than a player actually timebanking every hand But there is an mvp there that works among friendly players This means for example if two well known pros want to play a hu match they can play essentially rake free provided they trust each other enough not to encumber the game In this example encumbering the game would be pretty silly and pointless! 10:38 Trust isn’t really a big issue and if a players acts malicious the cost to the honest player is effectively zero

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“Bitcoin is a fixed supply a first-of-its-kind global-in-scale voluntary decentralized open-source digital currency and payment network that enables direct peer-to-peer borderless pseudo-anonymous nearly-instantaneous nearly-free and irreversible cash-like transfers of value The first currency and money system in the world which has no counter-party risk to hold and to transfer”

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Bitcoin is getting there But it’s not there yet When it gets there expect governments to panic and society to be reshaped into something where governments cannot rely on taxing income nor wealth for running their operations

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“The things I’ve been watching that look pretty interesting — and I don’t know if they’re going to go anywhere but the technique is interesting — is the use of Bitcoin as a way to do trans-boundary remittances There’s a couple of services that operate in Kenya that let you send money from like England to Nairobi through a Bitcoin interchange The funds can then be deposited directly into your mobile money account your M-Pesa account They’re avoiding all the problems that come from using the traditional international wire services

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“If not for political reasons why am I interested in Bitcoin Like a lot of people I was disturbed by the aftermath of the 2008 financial crisis I thought the government did what it had to do at the peak of the crisis but missed an important opportunity afterwards to reform the financial system It seemed to me that there were two ways to improve the system: from above through regulation which I support or from below through competition”

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“The traditional financial services industry is basically stagnant using 1950’s technology for most things No innovation no competition it’s stagnant! Even things like Apple Pay are running on top of the same failed credit-card based identity-laden easy-to-steal easy-to-compromise technology There’s no innovation there Bitcoin is the invention of radio and Apple Pay is taking smoke signals and adding colored smoke signals!”

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“Yet Bitcoin is still currently the most secure private payment method aside from cash While these uncertainties remain don’t be surprised if the number of people using Bitcoin soon increases to the point where there will be little the government can do Those looking for a cheaper method to transfer money should start downloading their wallets now”

“At its core Bitcoin is a smart currency designed by very forward-thinking engineers It eliminates the need for banks gets rid of credit card fees currency exchange fees money transfer fees and reduces the need for lawyers in transitions… all good things”

“But in every other aspect Bitcoin is superior So you know we live in a world in which there are 5 billion people who have a phone but do not have a bank account or a credit card So these banks that do so well have managed to barely bank 1 billion people There are 5 billion people who get abused for not having a bank account or a credit card They cannot participate in this global economy that we’re talking about all day This is the one time that we see a true realistic hope this could change That’s why I think Bitcoin is important: It’s relevant and I think it will take time just like the internet took time But it may have more impact than the internet If you go to Africa or Latin America parts of Asia and you sit down with not even a poor person just an average person and you ask “Look what would you prefer — free access to information which they’re getting now with their phones or a secure place to store the fruits of your labor and to receive and make payment”